Warren Buffett’s advice that Steve Jobs rejected and Tim Cook did not let go
One of the great characteristic traits of some people is based on asking for advice from their relatives or people who consider that their knowledge will allow them to make good decisions and that is precisely what Tim Cook, current CEO of Manzana, decided to do with Warren Buffet.
Warren Buffett, for those unfamiliar, is an American businessman and philanthropist, widely considered the most successful investor of the 20th and early 21st century, having defied prevailing investment trends to amass a personal fortune of more than $100,000. millions of dollars.
What is remarkable about this news is that the same advice that Buffet finally gave Cook after his question was also initially given to Steve Jobs. However, it seems that Jobs decided to ignore him.
“When I’m inexperienced with something, I make a list of people I think are the smartest to contact for advice…Warren was at the top of the list”Explain Tim Cook.
Warren Buffet’s advice that Tim Cook did not let go
After a long conversation, Buffet’s advice was as follows: “Let me cut it out, if you think your shares are undervalued, you should buy their shares”. When Steve Jobs consulted with Buffett, the famous investor also advised him that Apple use his cash to buy back shares of the company. company.
“Tim may not be able to design a product like Steve, but Tim understands the world to a degree that very, very few CEOs I’ve met in the last 60 years could match”Buffett added.
As mentioned before, this advice was totally ignored by Jobs. However, Cook’s consultation with Warren was an important part of Apple’s decision to start buying back shares of the company in late 2012.
“We’re lucky because when we buy our stock, we think that almost 50% of American households own Apple stock, either directly or indirectly through indexes and mutual funds.”. and so on,” Cook explains. “So help everyone or help a large number of people.”
Warren Buffett has praised the figure of Tim Cook on numerous occasions and his control over Apple. He considers him one of the best managers in the world, and of course, with Buffet’s invaluable help, what could go wrong?